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ITR2 or ITR4?

Dr. Jones (Director) (253 Points)

20 March 2010

Hi,

I have someone who has filed his ITR-2 for salary income & Short Term Capital Loss on 30th July 2009 (for FY 2008-09). Later, in November 2009 he receives arrears for professional fees, TDS is deducted and Form 16A is issued to him.

Because his income is below exemption limit, he wants to claim his TDS back. Now, if he wants to show that income in FY 2008-09 for which he has already filed ITR-2...what should he do? Should he file revised ITR-2 or file an ITR-4?

Is it compulsory to file ITR-4 if Form 16A is issued? This person also received Form 16 for his salary income.

Please let me know.

Thanks!

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17 Replies

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 20 March 2010

Show the income in the current F Y. i. e. 2009 - 10 and claim TDS in this yer itself.

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Dr. Jones (Director) (253 Points)
Replied 20 March 2010

But if the Form 16A is for FY 2008-09..can we show income in FY 2009-10?

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 20 March 2010

I think he is suppose to fill ITR 4 now... As the arrears for professional fees are the part of PGBP only and not IOS...

But let others answer too..

Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 20 March 2010

He is required to file ITR-2 in same manner for the financial year 2009-10 as the Tax is deducted during the financial year 2009-10 for which Relevant A.Y. 2010-11.

regards,

ratan

Dr. Jones (Director) (253 Points)
Replied 20 March 2010

But the income shown in Form 16A is for FY2008-09...so shouldn't he file ITR-2 or 4 for FY 2008-09?

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Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 20 March 2010

You can always claim TDS of last year if you forgot to claim in last year in the current year provided the income is shown in the year of claim of TDS.

Dr. Jones (Director) (253 Points)
Replied 20 March 2010

Ok...but if we want to file a revised return, we can do that too right? If yes, can claim this professional fee under revised ITR-2...correct?

Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 20 March 2010

yes, ITR-2 is to befiled for that.

regards,

ratan

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 20 March 2010

Hi jones, the person is supposed to file ITR 4 only brother

Dr. Jones (Director) (253 Points)
Replied 20 March 2010

How can he file two different ITR in the same year...he can only do a revised return of the ITR right?

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Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 20 March 2010

if u file Different ITR forms for the same assessment year, then u r invited the A.O. for further questioning as well as.

So keep that point.

regards,

ratan

Dr. Jones (Director) (253 Points)
Replied 20 March 2010

Keeping what Mr. Ratan is saying, I think revised ITR-2 would be the best option as we can mention Acknowledgement of previous return for easy tracking of our filing.

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 20 March 2010

Jones, why dont u get it buddy...

The person claim that TDS this year, THERE IS NO NEED TO FILL A REVISED ITR.......

And moreover, if u fill revised ITR 2, how can u claim TDS for PROFESSIONAL INCOME in that... Rather, tell ur client to claim such amount this year....